Gold Technical Outlook: Bullish Momentum with Key Levels toWatch
Updated
Gold Technical Analysis
The price action indicates a continuation of the bullish trend following a retracement from the key support level at 2622.
As long as the price remains above 2638 and 2622, the bullish outlook prevails, with potential targets at 2661 and 2678.
For a bearish reversal, the price would need to stabilize below 2638, which could lead to a retest of 2622. A confirmed hourly candle closure below 2622 would likely extend the downside move toward 2612 and potentially lower levels.
Key Levels:
Pivot Point: 2644
Resistance Levels: 2661, 2678, 2706
Support Levels: 2625, 2612, 2585
Trend Outlook: Uptrend
The current trend remains bullish, supported by strong price action above critical support zones.
The price action indicates a continuation of the bullish trend following a retracement from the key support level at 2622.
As long as the price remains above 2638 and 2622, the bullish outlook prevails, with potential targets at 2661 and 2678.
For a bearish reversal, the price would need to stabilize below 2638, which could lead to a retest of 2622. A confirmed hourly candle closure below 2622 would likely extend the downside move toward 2612 and potentially lower levels.
Key Levels:
Pivot Point: 2644
Resistance Levels: 2661, 2678, 2706
Support Levels: 2625, 2612, 2585
Trend Outlook: Uptrend
The current trend remains bullish, supported by strong price action above critical support zones.
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Gold
Update
As we mentioned, the bearish scenario will begin when the price stabilizes below 2638, so currently, as long as the price is trading below this level, it will fall to touch 2623.
but reversing up will move between the 2638 and 2661.
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